In the realm of goal-setting, the SMART acronym has long been hailed as a beacon of guidance. Specific, Measurable, Attainable, Realistic, Tangible – it's the formula that promises the path to success. Yet, for many of us, it's become a rigid and uninspiring template, one that funnels the concept of planning and achievement into a starkly linear framework that appeals solely to the rational side of our brains.
The strongest foundation for building a successful and satisfying financial life is a clear understanding of what is truly most important to you.
OpenAI's ChatGPT, a free AI platform, has gained much public attention, allowing users to generate human-like text. However, its "predictive" nature can result in the system making up information, which is a significant flaw that makes the system untrustworthy.
The 80/20 rule suggests that 80% of an outcome is the result of 20% of the effort put in. This rule can be applied to personal finance in the following ways.
Investing is personal, and the market is vast and ever-changing. Since there's no way to control this greater force, your approach to investing should be focused on your particulars.
Stories of miracle investment recoveries can create unrealistic expectations. Context and perspective are important in both investments and hip surgery recovery to temper day-to-day fluctuations and focus on long-term goals.